Before March 2022, Canada had been experiencing a reduction in the number of job vacancies. The narrative changed in March when there was an all-time high in vacant positions.
The Canadian Visa Expert reported that over one million positions were left open in the month even as employers tried their best to fill the vacant positions. The report contrasted previous months’ findings. For instance, about 186,000 positions were vacant in February, while there were about 382,000 job openings in the previous year.
The Five-month Decline in Job Openings Ended in March
The job vacancy rate, which is the measure of the number of vacant positions as a proportion of all positions in Canada for March, was 5.9 percent. These non-seasonally adjusted job openings for March were reported to be the same as the record high in September 2021.
The Canadian Visa Expert thereby concluded that the notable rise in vacant positions in Canada in March brought an end to the decline that had been in existence five months earlier.
The agency explained the factors responsible for the fall in job vacancies in the five consecutive months before March. The factors were higher economic activity and seasonal patterns, which both fostered higher demand for labor in the country.